Net Asset Value(s)

The company announces the following unaudited data                                
as at 23 February 2007 - Using BID Valuations                                     
NAV per ordinary share (excl current year income) with debt at par value   918.49p
NAV per ordinary share (excl current year income) with debt at market      903.18p
value                                                                             
The net asset values above have been updated to include undistributed revenue     
reserves (after provision for the proposed 2006 final dividend) relating          
to the year ended 31.12.06.                                                              
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